Novo Nordisk CEO says it is interested in M&A deals for drug portfolio — CNBC

Novo Nordisk CEO Mike Doustdar told CNBC Top News that the company is considering merger and acquisition (M&A) opportunities amid intensifying competition in the weight-loss drug market.

Competition in the market

Doustdar said this on Tuesday during Squawk Box Europe. He linked the consideration of such opportunities to growing competition in the crowded weight-loss drug market.

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Criteria for M&A

According to the executive, Novo Nordisk will first identify gaps in its own portfolio. The company may then look for those that have already developed or are preparing to introduce drugs that are better than those the pharmaceutical manufacturer can develop independently.

If M&A can fill such a gap, Novo Nordisk is interested in it, Doustdar said. The company sees acquisitions or mergers as an opportunity to supplement its drug portfolio with external developments.